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Malaysian developer secures £119m loan for 1,514 student beds in Bristol
A Malaysian developer has secured a loan to build a 1,514-bed purpose-built student accommodation (PBSA) scheme in Bristol.
A Malaysian developer has secured a loan to build a 1,514-bed student scheme in Bristol #UKhousingYTL Developments secured the £119m debt facility from Japanese bank Nomura to support the construction of the PBSA scheme.
The scheme will comprise 1,514 beds across four blocks, with completion targeted for autumn 2027.
It marks the first in a planned series of financing arrangements to support the construction of Brabazon, a wider regeneration masterplan by YTL Developments. The masterplan combines living, commercial and retail uses in various phases.
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Brabazon and the West Innovation Arc in South Gloucestershire were named by the independent New Towns Taskforce in September as one of 12 recommended locations for large-scale settlements.
The student scheme will be located adjacent to the new railway station planned for Brabazon.
YTL Developments said the loan from Nomura reflects the scale of the opportunity and the long-term nature of the masterplan.
Nomura said the Brabazon scheme addresses a shortage of high-quality student accommodation in Bristol and aligns with investor demand for stable, income-producing assets.
Cushman & Wakefield advised YTL Developments on the financing.
Ben Jones, finance director at YTL Developments, said: “This deal represents the first in a series of strategic financing activities planned for Brabazon as we deliver the most exciting new destination in the South West.
“Nomura’s financing underscores the institutional quality of the built environment being delivered, sharing our ambition for long-term placemaking.”
Several developers are targeting Bristol for new student accommodation developments. This week, Watkin Jones bought a site in Bristol to build a 484-bed PBSA scheme in a joint venture with Maslow Capital.
In other developments, Australia’s biggest pension fund, AustralianSuper, recently bought a 1,616-bed UK student housing portfolio across six PBSA schemes from Harrison Street for its new UK Living platform.
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